On June 19, 2025, BMO and Burgundy Asset Management announced the signing of definitive documents for BMO to acquire Burgundy Asset Management.
BMO and Burgundy Asset Management (“Burgundy”) announced, on June 19, 2025, the signing of definitive documents for BMO to acquire Burgundy. BMO will acquire Burgundy for a purchase price of approximately $625 million, payable in BMO common shares, including a $125 million holdback to be paid subject to Burgundy maintaining certain assets under management 18 months post-closing. An earn-out component may also be paid in the future based on the achievement of certain growth targets. Further terms of the deal were not disclosed.
BMO (TSX:BMO) (NYSE:BMO), headquartered in Toronto, is a bank offering a broad range of services including personal and commercial banking, wealth management, and capital markets. As of April 2025, BMO had approximately $1.4 trillion in total assets. BMO Capital Markets acted as exclusive financial advisor to BMO on the transaction.
Burgundy Asset Management, headquartered in Toronto, is a privately owned investment management firm offering discretionary investment services to individuals, families, foundations, endowments, and pension funds. As of May 2025, Burgundy had approximately $27 billion in assets under management. KMS Capital acted as financial advisor to Burgundy on the transaction.
To read the press release: please click here.